The Vietnam National Oil and Gas Group (PetroVietnam) is striving to pump out 15.5-16 million tonnes of crude oil this year in an effort to help the nation curb inflation.
While Vietnam is facing a cement shortage, the situation may reverse by 2010 when a series of cement plants start up, warned the Vietnam National Cement Association (VNCA).
As banks struggle to keep pace with inflation and the Government pushes for marco-economic stability, the State Bank of Vietnam has once again dramatically increased benchmark interest rates.
The State Bank of Vietnam will raise the basic interest rate on Vietnam dong to 12 percent per annum as from May 19, the central bank’s governor Nguyen Van Giau told the press on May 17.
